IGCSE Economics Paper-2: Specimen Questions with Answers 39 - 40 of 100

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Passage

“Economic and social conditions are giving profession choosing criteria and should be in accordance with labor market providing and the youngers expectations and needs. Job stability, salary, company reputation, prospects for promotion or opportunity to practice as many jobs are currently most common criteria”

Question 39 (3 of 5 Based on Passage)

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Short Answer▾

Explain the non-wage factors affecting choice of occupation

Explanation

Non-Wage Factors

Non-wage factors are dependent on the choice of occupation such as:

  • Job-satisfaction: Many people took a job only if they are satisfied with company, work environment, boss, employees, etc. other than the wage factor.
  • Career Prospects: People also prefer taking up those jobs that helps them enhance their skills and bring opportunity to get promoted.
  • Fringe benefits: These are non-financial incentives given to employees such as housing, rent, transport, food, etc.
  • Gender: Though people argue on gender equality and women prefer to get equal job role as men have, but there are certain work situations when only men can able to do. For example, women may not able to work long hours during pregnancy in a construction site.
  • Job security: People also prefer those jobs that offer them security and guarantee that they are not going to be laid off from the job.
  • Length of holidays: Many countries have brought labor laws that require certain number of holidays in a year.
Non-Wage Factors

Question 40 (4 of 5 Based on Passage)

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Short Answer▾

Explain, what is the concept of economic man and choice of occupation in human՚s life.

Explanation

  • Occupation plays a major role in every man՚s life. It is dependent on the activities and his thoughts. The proper evaluation of role of occupation will begin when he understands his needs.
  • The concept of ‘economic man’ has become outdated, rather boring to explain the need of man to work.
  • Though it may seem easy and simple as it is dependent only on his choice but in real life it is because of the need and desire to earn a livelihood and feed their family.
  • Therefore, taking this statement as true, the need of man to stop working is not dependent only on his wish.
  • Our society, in which we are living, doesn՚t have any single situation of satisfaction level but it depends on the basic needs and level of occupation.
  • Morse and Weise (1968) study indicate that working is not a means to earn a livelihood. Even if there is no economic necessity for men to work, still they would prefer to work to get acceptable in a society and to maintain a sense of well-being.

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